Jose incurred $16,000 childcare cost for his 3 kids when he went out of town for business trip. • $7,000 for Selena who turned 4 .o. during the year • $5,000 for Seville who turned 8 y.o. during the year • $4,000 for Sarmano who turned 11 .o. during the year His income earned for the year is $33,000. A) Based on the ages of his children, what is the maximum amount (basic) he can claim
Jose incurred $16,000 childcare cost for his 3 kids when he went out of town for business trip. • $7,000 for Selena who turned 4 .o. during the year • $5,000 for Seville who turned 8 y.o. during the year • $4,000 for Sarmano who turned 11 .o. during the year His income earned for the year is $33,000. A) Based on the ages of his children, what is the maximum amount (basic) he can claim
Chapter10: Deductions And Losses: Certain Itemized Deductions
Section: Chapter Questions
Problem 3BCRQ
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Question
Jose incurred $16,000 childcare cost for his 3 kids when he went out of town for
business trip.
• $7,000 for Selena who turned 4 .o. during the year
• $5,000 for Seville who turned 8 y.o. during the year
• $4,000 for Sarmano who turned 11 .o. during the year
His income earned for the year is $33,000.
A) Based on the ages of his children, what is the maximum amount (basic) he can claim?
B) Based on his income, what is the maximum amount he can claim?
C) Calculate the maximum childcare cost he can deduct from his income
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT